Ninety-seven percent of Voyager’s clients stored less than $10,000 on the platform, indicating a broad base of individual investors. It was a crypto lending and trading powerhouse – one of the few digital asset brokerages listed on stock markets anywhere in the world (albeit in Canada rather than the U.S., its home country).
Voyager’s future, until recently, looked bright. Leadership seemed barely able to conceive of a bear market, much less its consequences. Speaking in 2021, CEO Steve Ehrlich said that “I think the market looks completely different today from what it looked like in 2017. We all remember 2017.”
As it turns out, 2021 was actually a lot like 2017 – both were quickly followed by a brutal crypto market crash. Ehrlich’s sunny optimism has yielded a rotten harvest.
The Jersey City, N.J.-based company is now known to have made immense unsecured loans to Three Arrows Capital (3AC). That failed hedge fund now appears to have defaulted on all of its obligations, and its...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...